image Forex.com VISIT FOREX.COM image Zulutrade VISIT ZULUTRADE image City Index VISIT CITY INDEX
About

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Zulutrade is regulated by MiFID and have provided copy trading services since 2007.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 11 years in business
  • Yes
  • Yes
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK United States, 48 Wall str, 10th Floor Suite 1100, New York NY 10005 London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No Yes Yes
CFD No Yes Yes
Spread Betting No No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 50 84
Commodities Offered 12 26
Stocks Offered 0 4500
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes Yes No
See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes No Yes
MT5 No No No
MT4 Mac No No No
WebTrader Yes No Yes
Mirror Trader No No No
ZuluTrade No Yes No
Sirix No No No
cTrader No No No
PAMM No No Yes
Custom Platforms FOREXTrader PRO No AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

English, Chinese, and Arabic

English, French, Spanish, German, Polish, Dutch, Italian, Russian, Romanian, Turkish, Japanease, Arabic, and Korean

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

75% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Forex.com and Zulutrade

Demo account Yes Yes Yes
Mini account Yes No Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account Yes No No
Zero spread account No No No
VIP account No No Yes
Fixed spreads No Yes Yes
Variable spreads Yes Yes Yes
See account options

75% of retail investor accounts lose money when trading CFDs with this provider

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access Yes No No
STP broker Yes No Yes
Market maker Yes Yes Yes
Min trade Varies Varies 1 Lot
Max trade 5 million Varies Varies
Min deposit $500 Varies $25

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading No Yes Yes

FUNDING METHODS

Credit card No Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No Yes No
Neteller No No No
Skrill No No No
Payment processing time Varies Varies 2-3 business days
Withdrawal processing time 1-2 business days 2 business days 2-3 business days
See all funding options

75% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries AU, CA,KR, CU, IR, MM, SD, SY AU, CA,KR, CU, IR, MM, SD, SY US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number No 1-917-6282237 0845 355 0801
Live Chat Yes Yes Yes
Website http://www.forex.com www.zulutrade.co.uk www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips + $0.00 Not offered 0.5 pips
GBP/USD (Average: 1.1 pips) 0.9 pips + $0.00 Not offered 0.5 pips
USD/JPY (Average: 1.1 pips) 1.1 pips + $0.00 Not offered 1.6 pips
AUD/USD (Average: 0.8 pips) 1.2 pips + $0.00 Not offered 0.5 pips
USD/CHF (Average: 2.3 pips) 1.1 pips + $0.00 Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) 0.9 pips + $0.00 Not offered 0.5 pips
NZD/USD (Average: 3.6 pips) 2.3 pips + $0.00 Not offered 2.3 pips
EUR/GBP (Average: 2.4 pips) 1.3 pips + $0.00 Not offered 0.5 pips
View all spreads

75% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No Yes Yes
Commission No Varies 0.0015
Deposit Fee No Varies Varies
Withdrawal Fee No Varies Varies
View All Fees

75% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://www.forex.com. Last updated on 01/07/2019.

All information collected from www.zulutrade.co.uk. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

ZuluTrade was founded in 2007 to fill the gap in services offered for individual traders, who want to keep in total control of their funds despite busy schedules which prevented them from following the changing markets every minute of the day.

ZuluTrade provides a web-based platform that audits traders globally and allows traders to share their experiences and strategies with interested individuals. The platform converts the advice and strategies from successful traders into a service which can rapidly execute trades by providing the link between the information in the markets and trade execution.

The underlying principle of ZuluTrade is to facilitate an open environment where traders can connect to any trading platform and share their insights and earn a commision when others use their advice to a live trade.

ZuluTrade is well suited for individual traders who want to trade but do not have the time to study or monitor the market by allowing you to easily find the best signal providers who are doing the this for you and easily convert their advice into live trades.

For more information about trading with Zulutrade, we have put together an indepth Zulutrade review with all the pros and cons about this broker.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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Forex.com or Zulutrade?

Access to MT4 or low spreads?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, Forex.com is likely a better fit. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Zulutrade may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Forex.com and Zulutrade to be equally reliable. We’ve broken down why below:

Who are they regulated by?

Forex.com is regulated by Financial Conduct Authority, while Zulutrade is regulated by .

As the Financial Conduct Authority are one of the most stringent regulators in the world, Forex.com will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Forex.com has been around for 20 years, while Zulutrade have been around for 12 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Forex.com uses tier one banks as their banking partner.Zulutrade does not use tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both Forex.com and Zulutrade are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Forex.com are based in London, UK, while Zulutrade are based in United States, 48 Wall str, 10th Floor Suite 1100, New York NY 10005 .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Forex.com and Zulutrade offer forex trading. Forex.com have a slightly larger variety of currency pairs with 50 pairs, compared to offered by Zulutrade. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, Forex.com may be a better fit as Zulutrade does not offer commodity trading.

Zulutrade also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. City Index, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Forex.com does allow scalping and hedging. While Zulutrade also allows scalping and hedging. You can trade with EAs (expert advisors) on both Forex.com and Zulutrade.

In terms of risk management tools, neither Forex.com or Zulutrade offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Forex.com also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Zulutrade accept Paypal.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Forex.com charges 1.00 points, while Zulutrade charges points. Therefore, Zulutrade is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Forex.com or Zulutrade?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Zulutrade is more reliable based on our criteria above. Forex.com has a wider range of instruments to trade. Forex.com offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.